Nov 13 in Industry News
Annual inflation rate hit 2.6% in October, meeting expectations
- The consumer price index increased 0.2% in October, taking the 12-month inflation rate up to 2.6%. Both numbers were in line with expectations.
- The core CPI accelerated 0.3% for the month and was at 3.3% annually, also meeting forecasts.
- Despite signs of inflation moderating elsewhere, shelter prices continued to be a major contributor to the CPI move.
- Inflation-adjusted average hourly earnings for workers increased 0.1% for the month and 1.4% from a year ago.
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Annual inflation rate hit 2.6% in October, meeting expectations
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